Astra Leads Series C Funding in Indonesia’s Largest Healthtech Platform Halodoc
Jakarta, 21 April 2021 ─ Halodoc, an Indonesia-based healthtech startup, announced today that it has raised US$80 million in funding, led by new investor, PT Astra Digital Internasional, a subsidiary of PT Astra International Tbk (Astra). Other new investors in the financing round include Temasek, Telkomsel’s TMI, Novo Holdings, Acrew Diversify Capital Fund, and Bangkok Bank. UOB Venture Management, Singtel Innov8, Blibli Group, Allianz X, Openspace Ventures, and other existing investors also participated.
This is the third major funding round for Halodoc since its establishment in 2016. The funds raised will be used to deepen Halodoc’s penetration in key healthcare verticals across Indonesia, improving patient experiences with technology-based solutions for the country’s most pressing healthcare problems. Despite Indonesia being the world’s fourth most populous country with a population of more than 260 million spread across some 17,000 islands, access to healthcare is still limited for the majority of the population.
Halodoc is a digital healthcare platform that includes a mobile app and website allowing customers across Indonesia to have live consultations with more than 20,000 licensed doctors in the country, anywhere, anytime. Customers can order lab tests to be carried out in the comfort of their homes. They can also use the app to order medication from over 4,000 participating pharmacies, which can be delivered within an hour. In 2020, Halodoc launched an appointment service that connects over 2,000 providers (hospitals, clinics, labs, etc.) to patients in over 180 cities across Indonesia. According to the World Bank in 2018, there are only 4 physicians to every 10,000 people in Indonesia, while the global average is 16 to every 10,000 people.
Halodoc has expanded their appointment service during the pandemic to help Indonesian's book COVID-19 tests and vaccinations. Halodoc was also the first to roll out their drive-thru COVID-19 testing nationwide and become the most prominent operating provider in Indonesia. Recently, with Halodoc's proven track record, the Ministry of Health also appointed Halodoc to help roll out Indonesia's national vaccination program. Halodoc vaccinated over 50,000 citizens across two islands in the first 23 days of the vaccination program, making it one of the country's leading vaccination facilitators.
Jonathan Sudharta, Halodoc CEO, said: “Halodoc has grown to be Indonesia’s leading healthtech provider. Today, we provide over 20 million users with convenient and reliable healthcare services monthly. We are also proud to be at the forefront of Indonesia's fight against COVID-19. The Halodoc technology that powers our Appointment system pre-pandemic is now being used to provide a safe and efficient patient journey for COVID-19 testing and vaccinations. We are excited to extend our vision, and we appreciate the continued support given to us by our investors, industry partners, and patients we serve across the country.”
Djony Bunarto Tjondro, President Director of Astra, said: “Astra’s participation in Halodoc fundraising demonstrated our confidence in Halodoc’s vision and commitment to alleviate challenges around healthcare access in Indonesia. The recent pandemic has been very challenging to the nation’s healthcare system, and we believe Astra’s investment can support Halodoc to continue providing innovative solutions that impact the lives of millions of Indonesian people.”
Andi Kristianto, TMI CEO, said: “Halodoc and Telkomsel have recently developed and launched multiple services, built on telco solutions, which gives patients a super-charged healthcare experience across Indonesia. Now, we are continuing this partnership by making strategic investments that will further create the most comprehensive, end-to-end solution that transform the continuum of healthcare.”
Mr Kian-Wee Seah, Managing Director and CEO, UOB Venture Management, said: “The COVID-19 pandemic has accelerated the demand for and adoption of telehealth services, underpinning the strong growth in users of Halodoc’s digital healthcare platform. Our follow-on investment will support Halodoc in its mission to simplify and to enable greater access to affordable healthcare. We welcome the new investors as we work together with Halodoc to progress towards better and more integrated healthcare services for the Indonesian population.”
Shane Chesson, Openspace Ventures Founding Partner, said: “Access to affordable, quality healthcare remains a pressing need in Indonesia. We are confident that Halodoc remains in a dominant position to capture gains from an increasingly IT savvy market where adoption of digital healthcare is on an upward trajectory. The company has the widest network across all stakeholders – doctors, users, hospital partners, insurance partners and pharmacy partners, and is reaping the benefits of these economies of scale.”